Sei Investments Co. Sells 13,981 Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI)

Sei Investments Co. decreased its position in Merit Medical Systems, Inc. (NASDAQ:MMSI) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,320 shares of the medical instruments supplier’s stock after selling 13,981 shares during the quarter. Sei Investments Co.’s holdings in Merit Medical Systems were worth $18,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Merit Medical Systems by 40.2% during the fourth quarter. American Century Companies Inc. now owns 23,658 shares of the medical instruments supplier’s stock worth $2,288,000 after acquiring an additional 6,789 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Merit Medical Systems during the 4th quarter valued at $203,000. Magnetar Financial LLC purchased a new position in Merit Medical Systems in the 4th quarter worth $780,000. Teacher Retirement System of Texas raised its position in Merit Medical Systems by 108.5% in the 4th quarter. Teacher Retirement System of Texas now owns 39,400 shares of the medical instruments supplier’s stock worth $3,811,000 after purchasing an additional 20,506 shares during the period. Finally, Xponance Inc. lifted its stake in Merit Medical Systems by 19.1% in the fourth quarter. Xponance Inc. now owns 4,475 shares of the medical instruments supplier’s stock worth $433,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MMSI shares. Raymond James raised their price objective on Merit Medical Systems from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 31st. Barrington Research decreased their price target on Merit Medical Systems from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group lowered their price objective on Merit Medical Systems from $128.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC cut their target price on shares of Merit Medical Systems from $122.00 to $116.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on shares of Merit Medical Systems from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Merit Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $110.78.

Merit Medical Systems Stock Down 0.4 %

Shares of Merit Medical Systems stock opened at $103.27 on Friday. The company has a current ratio of 5.36, a quick ratio of 3.82 and a debt-to-equity ratio of 0.57. Merit Medical Systems, Inc. has a 12-month low of $70.70 and a 12-month high of $111.45. The company has a market cap of $6.08 billion, a P/E ratio of 50.62, a PEG ratio of 2.34 and a beta of 0.91. The company’s fifty day simple moving average is $104.28 and its two-hundred day simple moving average is $100.96.

Insider Activity at Merit Medical Systems

In other Merit Medical Systems news, CFO Raul Jr. Parra sold 12,451 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $98.81, for a total transaction of $1,230,283.31. Following the transaction, the chief financial officer now owns 24,201 shares in the company, valued at approximately $2,391,300.81. This represents a 33.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian G. Lloyd sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 38,993 shares of the company’s stock, valued at $3,879,803.50. This represents a 39.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,132 shares of company stock worth $11,139,521 over the last 90 days. 3.70% of the stock is owned by company insiders.

About Merit Medical Systems

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.